Bureau of Engraving and Printing – The Monthly Production Report for May 2018 Has Been Posted
The Monthly Production Report for May 2018 Has Been Posted.
Silver, Gold American Eagles Most Counterfeited Bullion Coins
Since 1986 when the United States Mint first introduced silver and gold American Eagle bullion coins, they have been top sellers in the United States as well as around the world.
A new survey conducted by the Anti-Counterfeiting Task Force indicates the popular U.S. bullion coins are now leaders in a category their manufacturer would rather not be in—the most frequently encountered bullion coin counterfeits.
Some 43.3 percent of coin dealers in the United States report encountering customers seeking to sell them counterfeit silver American Eagle bullion coins. Similarly, 41.2 percent report customers trying to sell them fake gold American Eagle bullion coins. The most frequently encountered fake foreign gold bullion coins include the South African gold Kruggerand at 30.4 percent, the Canadian gold Maple Leaf at 24.2 percent, and Mexican gold 50 pesos at 20.1 percent.
“The survey results are not surprising to us,” said Beth Deisher, the Industry Council for Tangible Assets Director of Anti-Counterfeiting. “Counterfeiters—primarily from China—target the most popular products, usually market leaders with the highest brand identification.”
She cited survey results in two other categories – bullion bars and collectible classic U.S. coins.
PAMP (Suisse) gold ingots and bars are the worldwide market leader; 57.8 percent of U.S. dealers in the survey reported customers seeking to sell them counterfeit gold PAMP bars and 36.1 percent reported encountering fakes of Australia’s Perth Mint gold bars. For silver, fakes of privately minted bars bearing the logos of the SilverTowne Mint, 24.7 percent, and the private Sunshine Mint (19.9 percent) registered highest in the survey.
Among collectible classic U.S. coins, Morgan silver dollars at 71.7 percent led the list of most frequently encountered counterfeits, followed by Trade dollars, 66.6 percent; Seated Liberty dollars, 48.6 percent; Lincoln cents, 35.9 percent; Peace dollars, 33.1 percent; and Early American copper large cents and half cents, 29.7 percent.
Among collector gold U.S. coins, 42. 1 percent of the dealers reported counterfeits of the $2.50 gold coin are the most frequently encountered, followed by fakes of $5 gold, 36.2 percent; $20 gold, 33.4 percent; $1 gold, 33.1 percent; and $10 gold, 27.6 percent.
Deisher noted it is illegal to possess, buy, or sell counterfeits of U.S. or foreign coins and that most dealers refuse to knowingly purchase fakes.
“Dealers tell us they often encounter people who have unknowingly purchased fake coins or bars via the internet or from flea markets thinking they have gotten a bargain because the price they paid is a fraction of the market value of the real items. When they attempt to sell their “bargains” to dealers they learn there is no Santa Claus in numismatics. Their fakes are worthless.” Deisher said.
She said that dealers also encounter people trafficking in counterfeits who know exactly what they are trying to sell. “The traffickers are quick to leave when they realize they can’t fool the dealer,” Deisher explained.
According to the survey, 92.4 percent of the dealer respondents said they rely on their personal knowledge of coins and bars to identify fakes and 60.6 percent use counterfeit detecting equipment to verify their suspicions. Some 41.4 percent report having completed counterfeit detection classes with the remainder having attended seminars or educational presentations detailing deceptive counterfeits in the marketplace.
More than 80 percent of the survey participants noted an increase in the number of counterfeit coins and bars entering the marketplace during the past five years.
Had the counterfeits they have encountered in the past year been genuine, 28.8 percent estimated the value would have been between $1,000 to $5,000 with 8.4 percent estimating the value at more than $300,000. More than 50 percent of the respondents placed the value between $5,000 and $300,000.
More than 68 percent of the dealer respondents reported encountering counterfeits sporadically over weeks and months, while 9.2 percent reported being offered them two to three times a week and 1.9 percent being offered them daily.
Deisher emphasized that members of the buying public can best protect themselves from counterfeits by purchasing from knowledgeable, reputable dealers and directly from the government or private Mints that manufacture the coins and bars.
The online survey of dealer members of the Industry Council for Tangible Assets, the Professional Numismatist Guild, and the American Numismatic Association was developed and conducted June 7 through 14 by the Research Work Group of ICTA’s Anti-Counterfeiting Task Force.
The Industry Council for Tangible Assets formed the Anti-Counterfeiting Task Force in January 2017. ACTF’s mission is to educate law enforcement authorities and policymakers about the rising threat of counterfeiting, mobilize law enforcement to attack counterfeiters where they are most vulnerable and provide expertise and other resources in the investigation and prosecution of counterfeiters and those involved at all levels of their distribution networks.
ICTA is a 501(c)(6) non-profit association and is supported solely by dues and contributions. The ACTF is supported solely by contributions. Contributions or gifts to ICTA or ACTF are not tax deductible as charitable contributions. However, contributions may be deductible as a business expense, so please consult with your tax accountant. For those who wish to make a charitable tax-deductible donation, please make checks payable to the Anti-Counterfeiting Educational Foundation and mail to ICTA, P.O. Box 237, Dacula, GA 30019. For information about donating, contact Beth Deisher at 567-202-1795; email beth.deisher@ictaonline.org.
Robbery Policies and Procedures For Shop Owners
Robbery Policy and Procedures — A Risk Assessment
The recent alert sent out by NCIC showed graphic photos of the recent armed robbery of Fort Worth Coin Company in Fort Worth, Texas. The incident illustrates the risk of operating a brick and mortar business. It is imperative that shop owners have robbery policy and procedures in place to reduce the risk of violence against employees and customers.
The attached document developed by NCIC provides shop owners with a basic armed robbery policy and procedure. However, this is only one component of an overall risk assessment of business operations that should be updated and reviewed with employees periodically.
To reduce the risk of armed robbery employers should also review and evaluate other operational issues which include; opening and closing procedures, cash control, physical security/device measures and identifying suspicious persons/activity.
ROBBERY POLICY and PROCEDURES
(EXAMPLE)
An armed robbery is a serious crime that could have a significant impact on the health, safety, and welfare of you, your staff and customers. It is therefore important for your business to have security and armed robbery procedures in place and for all staff to be familiar with them.
It is important to remember two things:
- Robbers want one thing — your money or property — and they want it quickly.
- Robbery is a risky business and robbers are usually nervous. You do not want to delay a robbery in any way and increase the potential for violence. Give the robber what he or she wants and do it quickly. Do not risk your life or another person’s life, for property.
Develop a checklist for employee responsibilities after an incident. Identify who will call the police, secure evidence, lock the doors, and advise employees not to share the experience with co-workers or customers so they can provide an independent account of the event during the Robbery
- Be a good witness. Stay calm, alert, and aware of your surroundings. If possible, write down everything you remember. The more accurate the description, the more chance the police have to apprehend the criminal. Pay attention to the type and color of clothing, unique characteristics such as scars, tattoos, birthmarks, and mannerisms. Note the direction of travel in which the robbers fled. If they flee in a vehicle, be aware of the type and color and if possible, the license plate number.
- Always consider the individual armed and dangerous as well as possibly being under the influence of drugs or alcohol.
- Give the robber exactly what he/she wants. A robber will rarely hurt you unless you resist or provoke them.
- The object is to get the robber out of your place of business as soon as possible.
- Don’t fight or chase the robber. Nothing is worth your life.
- Always tell the robber about surprises. They may resort to violence should they be startled.
- Let the robber make the first move. Keep your hands in plain sight. Never make sudden or unexpected movements. Never argue or play games with the individual(s).
- If you can’t or don’t know how to comply with their command, give the robber a clear and convincing reason. (Ex. “I don’t have the combination to the safe.”)
Remember: Money and material items can always be replaced. Your health and safety cannot!
After the Robbery
- As soon as the robber leaves lock the doors immediately. Make sure you have an employee assigned to lock the doors, call 911, tell the call taker of the situation and any injuries. Do not go outside until asked by the operator to meet with the police.
- When you call 911, never hang up the phone until you are instructed to do so by the operator.
- Do not touch anything the robber/robbers may have touched.
Do not discuss what happened with any other witnesses. Until you have talked with authorities.
The Numismatic Crime Information is providing this information as a basic guide in developing policy and procedures in the event of a robbery and should be reviewed on an annual basis as part of an overall business risk assessment and analysis.
I hope the information provided will assist you in the development of an overall security plan for your business.
Founder/President
Numismatic Crime Information Center
817-723-7231
Doug@numismaticcrimes.org
Early Type, Morgan Dollars, Gold, and Pattern Coins Focus of Eight Fresh, High-End, Quality Collections That Anchor Legend’s 27th Regency Auction
Diverse offering of rarities will make the July temperature in Vegas even hotter
(June 20, 2018—Lincroft, NJ)—If you think Las Vegas is HOT in July, step inside our auction room—the atmosphere will be even hotter! Legend Auctions is proud to have produced yet another mindboggling auction for the 27th Regency Auction. The amazing coins in this sale could possibly beat the record-breaking results in our May 2018 Regency Auction 26. As always, the Regency Auction is the official Auction of the PCGS Member’s Show; July’s event will be conducted at Caesar’s Palace on Thursday, July 26, 2018 beginning at 4:30 PST.
With 604 lots, the July 2018 Regency Sale is anchored by eight SUPERB consignments:
The RanJack Morgan Dollar Collection—a very high-end quality collection of Philadelphia, San Francisco, and New Orleans mint Morgans. Many of these are among the FINEST known and all were hand selected by a very picky collector over the course of more than two decades.
The Aurora Borealis Collection—a few more select duplicates from this monster collection of amazing toned dollars.
The Liberty Sunrise Collection—a complete set of Peace dollars offering original toning. The degree of toning varies from light gold to superb bag toning. Many pieces were purchased at previous Legend Auctions.
The South Texas Collection—a partial 18th century U.S. type set assembled by a very fastidious collector client of Legend Numismatics. Each coin was hand selected for the client by Laura Sperber, and every coin is PCGS-graded and CAC-approved. Each coin in this collection is a highlight! The collector is now moving on to another area of numismatics.
The Pharma Collection—a selection of coins from a Legend Numismatics collector client who sold the majority of his collection previously. The coins in RA27 were retained as his favorites. He is now retiring and decided to sell of these remaining highlights. What a killer group of 19th century type coins! Again, since every coin was purchased from Legend, and hand selected by Laura Sperber, each coin is PCGS/CAC and has awesome eye appeal.
The Huron Hills Collection—selections from a collection that is now being refocused. Each coin is PCGS/CAC and very high end! This group’s focus is Morgan dollars, Walkers, and commems.
The Chester Roche Collection—fresh to the market, this collection of 49 pieces is a wonderful holding of gold dollars and quarter eagles. The collector was active back in the mid to late 1990s and many of the coins are housed in old green tag PCGS holders.
The Steven Cook Collection of Patterns, Part 2—the final installment of this very extensive collection of pattern coins. A very diverse offering of issues, including many R-7 Judd numbers. Part 1 was sold in our May Regency Auction and was very well received. This second part has a neat offering of off-metal gold patterns and some GEM silver dollar patterns in copper.
“We are extremely excited about the Regency Auction 27! The sale features so many high-end and FRESH to the market coins, the quality of the sale is remarkable,” explained Julie Abrams, LRCA President. “This is one of the greatest grouping of collections we have ever presented for auction!”
Founder Laura Sperber interjected, “Every coin in the South Texas and Pharma Collections is a highlight! Our favorites from these two collections, hand assembled by Legend Numismatics for two very picky collectors, include: H10C 1796 13 Stars. MS65+, the 25C 1796 PCGS AU53, and the out of this world 50C 1795 PCGS MS64+ and 5C 1908 PCGS PR67 CAM CAC. This coin is virtually a DCAM, $1 1897 PCGS PR68 CAM CAC, $2.50 1871 PCGS MS65 CAC, $20 1906 PCGS MS66 CAC.”
Julie Abrams continued, “Morgan dollar collectors will be able to bid on many amazing superb GEM examples from the RanJack and Aurora Borealis Collections. Collectors of better date gold will certainly be excited by the Chester Roche Collection, and its offering of high grade, rare gold dollars and quarter eagles. Pattern specialists will certainly find many coins of interest in Part 2 of the Steven Cook Collection.”
“Presented alongside the anchor consignments are hand-selected coins from a wide variety of sources. Every numismatic enthusiast will find many great coins at all price points from $1,000 to over $250,000,” notes Greg Cohen, senior numismatist for the firm. “There are many important rarities in many series from other consignors as well. This sale presents a very important opportunity to buy AMAZING coins. Just take a look at the highlights listed below. There will be something for everyone in this sale, and we anticipate record participation, as we saw in New Orleans.”
“Demand for inclusion in this sale was white hot,” Laura Sperber explained. “The Legend team vetted each coin for this important sale, and there were over 100 coins that were submitted for consignment, that we did not take because of value or quality considerations. Clearly what is being offered is exceptional! Know that we really do make it so you can bid with confidence that you will get a very impressive coin!”
Highlights of Regency Auction 27 include:
- Lot 20 $1 1884-S PCGS MS63 From the RanJack Collection
- Lot 25 $1 1886-O PCGS MS64+ CAC From the RanJack Collection
- Lot 48 $1 1894-S PCGS MS65+ CAC From the RanJack Collection
- Lot 71 $1 1903-S PCGS MS66 CAC From the RanJack Collection
- Lot 95 $1 1892-O PCGS MS66+ CAC
- Lot 106 $1 1904-O PCGS MS66+ DMPL CAC
- Lot 160 $1 1927-S PCGS MS65 CAC From the Liberty Sunrise Collection
- Lot 174 1C 1794 Head of ’94. PCGS MS66+ BN CAC Ex Lord St. Oswald. From the South Texas Collection
- Lot 218 1C 1909 V.D.B. Matte Proof. PCGS PR66 RB CAC
- Lot 239 3CS 1863/2 PCGS PR67 CAM
- Lot 264 H10C 1803 Small 8. PCGS AU55
- Lot 295 25C 1911-S PCGS MS67+ CAC Ex Eliasberg
- Lot 300 25C 1916 Standing Liberty. PCGS MS66 FH CAC
- Lot 319 50C 1829 NGC PR63 CAC
- Lot 367 $1 1851 Restrike over O-mint Seated Dollar. PCGS PR63
- Lot 405 G$1 1849-C Open Wreath. PCGS MS63 From the Chester Roche Collection
- Lot 417 G$1 1862 PCGS MS67 CAC From the Chester Roche Collection
- Lot 430 $2.50 1835 PCGS MS63 CAC From the Chester Roche Collection
- Lot 436 $2.50 1856-O PCGS MS60 From the Chester Roche Collection
- Lot 459 $2.50 1900 PCGS PR67 DCAM CAC
- Lot 465 $3 1887 PCGS PR65+ DCAM CAC
- Lot 466 $4 1879 Flowing Hair Stella. PCGS PR64 CAC
- Lot 473 $5 1854-C PCGS MS62 CAC—a new discovery
- Lot 484 $10 1900 PCGS PR66+ DCAM CAC
- Lot 498 $20 1908-S PCGS MS66 CAC
- Lot 532 5C 1866 J-461. PCGS PR66 CAM CAC From the Steven Cook Collection, Part 2
- Lot 540 $10 1868 J-663. PCGS PR64 From the Steven Cook Collection, Part 2
- Lot 554 $2.50 1869 J-770. PCGS PR64+ CAM CAC From the Steven Cook Collection, Part 2
- Lot 585 $1 1879 J-1616. PCGS PR66 RB From the Steven Cook Collection, Part 2
Legend’s Regency Auction 27 is now open for bidding. To view these, and all other lots visit www.legendauctions.com today. Lot viewing will take place at the PCGS Members Show on July 24, 25, and 26. If you need to make arrangements to view lots at LRCA’s office, please call or email ASAP (732-935-1168 or info@legendauctions.com).
Legend Rare Coin Auctions is a boutique auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, the premier rare coin retail firm, LRCA was, from the outset designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, held 4-5 times per year; the firm also conducts monthly Premier Sessions auctions. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); and the Oak Crest Collection of Carson City $5 gold. The firm also set the record for #2 highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella” which realized $1,880,000.
To consign to an upcoming auction, contact Julie Abrams (julie@legendauctions.com), Greg Cohen (greg@legendauctions.com), or Jessica Berkman (jessica@legendauctions.com).
Coming Soon – $2 Lucky Panda
First Day of Sale: July 10, 2018 (8:00 a.m. ET) – The Bureau of Engraving and Printing (BEP) is pleased to introduce the $2 Lucky Panda, a new addition to the Lucky Money Collection.
The $2 Lucky Panda is exquisitely designed with decorative Chinese symbolism and is packaged in a symbolic, red folder with embossed, gold foil. This product features an uncirculated $2 Federal Reserve note with a serial number beginning with “888.” The $2 Lucky Panda symbolizes character traits as peace, harmony and friendship.
Please visit our website for additional product information at www.moneyfactorystore.gov.
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